SPDR MSCI Correlations

QWLD Etf

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The current 90-days correlation between SPDR MSCI World and iShares MSCI ACWI is -0.08 (i.e., Good diversification). The correlation of SPDR MSCI is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

SPDR MSCI Correlation With Market

Poor diversification

The correlation between SPDR MSCI World and DJI is 0.77 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR MSCI World and DJI in the same portfolio, assuming nothing else is changed.

Check out Your Equity Center to better understand how to build diversified portfolios, which includes a position in SPDR MSCI World. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in bureau of economic analysis.

Moving together with SPDR Etf

0.71	VT	Vanguard Total World	Pair Corr
0.7	ACWI	iShares MSCI ACWI	Pair Corr
0.85	ACWV	iShares MSCI Global	Pair Corr
0.69	IOO	iShares Global 100	Pair Corr
0.79	URTH	iShares MSCI World	Pair Corr
0.76	CRBN	iShares MSCI ACWI	Pair Corr
0.93	GLOV	Goldman Sachs ActiveBeta	Pair Corr
0.73	KOKU	Xtrackers MSCI Kokusai	Pair Corr
0.84	SPGM	SPDR Portfolio MSCI	Pair Corr
0.7	HD	Home Depot	Pair Corr

Related Correlations Analysis

	ACWI	IOO	URTH	CRBN	GLOV	KOKU	SPGM
ACWI		0.88	0.91	0.92	0.78	0.9	0.91	ACWI
IOO	0.88		0.91	0.92	0.73	0.9	0.91	IOO
URTH	0.91	0.91		0.99	0.89	0.99	0.97	URTH
CRBN	0.92	0.92	0.99		0.87	0.98	0.98	CRBN
GLOV	0.78	0.73	0.89	0.87		0.86	0.89	GLOV
KOKU	0.9	0.9	0.99	0.98	0.86		0.95	KOKU
SPGM	0.91	0.91	0.97	0.98	0.89	0.95		SPGM
	ACWI	IOO	URTH	CRBN	GLOV	KOKU	SPGM

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SPDR MSCI Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR MSCI ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze SPDR MSCI's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ACWI	0.46	0.07	0.00	2.59	0.43	(0.53)	1.12	(0.88)	3.29
IOO	0.53	0.05	0.02	0.16	0.65	(0.55)	1.15	(1.29)	4.09
URTH	0.47	0.03	0.00	0.12	0.46	(0.51)	0.98	(0.99)	3.36
CRBN	0.46	0.04	0.01	0.14	0.41	(0.51)	1.17	(0.92)	3.09
GLOV	0.46	(0.02)	(0.11)	0.03	0.48	(0.51)	0.89	(0.88)	2.62
KOKU	0.45	0.03	0.01	0.13	0.47	(0.47)	0.89	(0.94)	3.16
SPGM	0.47	0.02	(0.01)	0.11	0.44	(0.52)	1.15	(0.90)	3.11

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SPDR MSCI Correlations

SPDR MSCI Correlation With Market

Poor diversification

Moving together with SPDR Etf

Related Correlations Analysis

SPDR MSCI Constituents Risk-Adjusted Indicators

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